Comments on: What Is A Health Care Flexible Spending Account (FSA)? How Does It Work?

By: How Does A Flexible Spending Account (FSA) Work?

How Does A Flexible Spending Account (FSA) Work? — Thu, 05 Aug 2010 12:51:20 +0000

[...] point of the FSA has been referred to as the FSA loophole because if you end up leaving a job only part of the way into the year, you no longer have to make [...]

By: 24HourFlex

24HourFlex — Fri, 12 Feb 2010 05:01:11 +0000

Great overview, thanks for highlighting an often overlooked way to help people save.

FSAs will save the majority of people at least 30% on the funds they contribute (rough estimate). If anyone has questions please feel free to contact our company, we will gladly answer FSA questions, even for people who are not FSA participants through our company.

By: Money Hackers Carnival #103 – Snowed In Edition

Money Hackers Carnival #103 – Snowed In Edition — Wed, 10 Feb 2010 10:05:15 +0000

[...] presents What Is A Health Care Flexible Spending Account (FSA)? How Does It Work? posted at Bible Money [...]

By: gn

gn — Mon, 01 Feb 2010 16:31:47 +0000

One danger of having a big FSA balance early in the year is the (false) feeling that it is company money and it doesn’t matter what you spent it on. There is almost a desire to “make sure it gets spent”…

Pretend you will run out, so every dollar matters, and then shop around for lower-cost clinics and buy things on sale, etc.

By: Let it Snow!

Let it Snow! — Sun, 31 Jan 2010 18:20:38 +0000

[...] Money Matters presents What Is A Health Care Flexible Spending Account (FSA)? How Does It [...]

By: Ken

Ken — Sun, 31 Jan 2010 12:03:07 +0000

Yes I have used FSA 5 years in a row..I have used every cent every year. We only choose $1200 a year. I love the FSA because monthly deductions are before taxes and the debit card is so practical to use. Anyone who has it as an option….go for it!
Ken´s last post ..Weekend Roundup

By: Peter Anderson

Peter Anderson — Sun, 31 Jan 2010 04:13:10 +0000

I think that a FSA can probably be a bit of a pain to manage, and the tough part is to estimate what you’re going to spend. It may be a better idea for folks like my wife and I – because we know we’re going to have several thousand dollars in expenses for sure – with the birth of our first child, and my wife’s ongoing health issues. For us it will save quite a bit in taxes – and it makes it worth it to manage.

By: David/yourfinances101

David/yourfinances101 — Sun, 31 Jan 2010 03:44:47 +0000

I’ve never been a fan of thse. It seems to me that if you overestimate your medical expenses for the year, you end up using up your money at the end of the year on things you normally wouldn’t have done

By: Danielle

Danielle — Sat, 30 Jan 2010 07:34:40 +0000

I have an FSA and I max it out for the year. I didn't last year and ran out of funds in September. I see a specialist for an array of illnesses who doesn't take insurance and the cost is $300 per visit. Needless to say, the FSA makes that much easier on my wallet. My doctor is also a big believer in alternative remedies and she provides me with prescriptions for trigger point massage and reflexology so that is covered through my FSA too. An FSA is also critical with my firm because our insurance plan changed and it no longer covers labs or tests until the deductible is met. $750 for an individual and then only 80% thereafter. I'm sure my FSA will be fully utilized again this year before the fall. Danielle´s last post ..I Want Your Feedback

By: Year-End Financial Moves for 2009

Year-End Financial Moves for 2009 — Sat, 30 Jan 2010 04:57:02 +0000

[...] you have a Flexible Savings Account for your healthcare expenses? Think about getting some new glasses or braces, or find some way to [...]